Glancy Binkow & Goldberg LLP reminds investors of Arrowhead Research Corporation ("Arrowhead" or the "Company") (NASDAQ:ARWR) that purchasers of Arrowhead common stock between August 12, 2014 and October 8, 2014, inclusive (the "Class Period"), have until December 9, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Central District of California. Arrowhead is a biopharmaceutical company engaged in the development of RNA Interference ("RNAi") therapeutics to suppress disease-causing genes. The Company's ARC-520 targets the hepatitis B virus, and currently is being tested for its effectiveness in using RNAi to halt the production of hepatitis B genes as a potential therapy for treating chronic hepatitis B. The Complaint alleges that defendants misrepresented the true viral reduction level that ARC-520 can induce in humans, and failed to disclose that data from the Phase IIa study of ARC-520 did not support their assertions concerning the drug's ability to induce a certain reduction level of hepatitis B surface antigens in humans. On October 8, 2014, the Company announced the results of its Phase IIa study of ARC-520, which revealed that ARC-520 dosed at 2 mg/kg induced a reduction in hepatitis B surface antigens that was far short of the levels defendants previously suggested. Following this news, the Company's stock dropped $5.48 per share, or almost 44% below its previous closing price, to close at $7.03 per share on October 8, 2014, on extraordinary volume. If you are a member of the Class described above, you may move the Court no later than December 9, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, or Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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